Latest Business News in Iran – News and reports about all things to do with commerce, trade, banking and industry in Iran and the world. Covering ongoing developments, market news, contracts, joint ventures, trade delegations, chambers of commerce, manufacturing, labour news and resource management.
The Iranian parliament has released a scathing report involving a 3-billion-dollar corruption case in a mega-scale steel company’s management and financial transactions after a 19-month investigation.
The Western sanctions on Russia over the conflict in Ukraine has provided a new opportunity for Iran’s automobile and auto parts industry to gain a firm foothold in its northern neighbor’s markets, an Iranian official says.
The CEO of the National Iranian Oil Refinery and Distribution Company says the country exported shipment after shipment of diesel to Afghanistan at a price of 1,100 dollars per ton last week.
Iran’s minister of roads and urban development says the Islamic Republic and Pakistan are set to remove obstacles to expand their bilateral trade ties.
New data show the value of trade exchanges between Iran and the European Union (EU) rose by 34 percent in the first half of this year, compared to same period in 2021, surpassing €2.5 billion.
The spokesman for Iran’s customs organization has said in the first four months of the Persian year of 1401, 27,035,000 tons of goods worth $16,871,873,000 have been traded between Iran and neighboring countries.
Iraq’s Ministry of Electricity says the Arab country needs between 50 to 55 million cubic meters of natural gas from Iran, and that Baghdad is in talks with Tehran to increase its gas imports from the neighboring country.
Iran's Embassy in Greece has said Iranian oil stolen at the order of the US from a vessel carrying the crude in Greek waters will be returned to the Islamic Republic soon.
A union representing sellers of fruits and vegetables in the Iranian capital, Tehran, reports a drop of between 50 to 60 percent in the public demand for fruits in markets due to the people’s declining purchasing power as the country’s economy grapples with inflation.
The spokesman for Iran’s customs organization says since President Ebrahim Raisi took office in late August 2021, 151,496mn tons of goods worth $101,820bn have been traded between Iran and foreign countries.
The Iraqi Ministry of Electricity says it is in talks with Iran for securing a rise in imports of natural gas from its eastern neighbor as Baghdad works to inaugurate new power plants fueled by natural gas.
Iran’s oil minister says the country, which sits on the largest oil and gas reserves of the world, is ready to increase its crude output to pre-sanctions levels in as short a time as possible.
Iranian Minister of Petroleum Javad Owji has stated Tehran, as a founding member of OPEC, will provide support and continue with its constructive cooperation with the organization, its secretariat and the cartel’s new secretary general as it did before.
Japan’s Ambassador to Tehran Aikawa Kazutoshi says sanctions imposed by the United States have reduced bilateral trade between Tehran and Tokyo by almost 80 percent in the past several years.
The chair of the Iranian parliament’s foreign relations committee says Europe is trying to act as a mediary in the talks for revival of the 2015 nuclear deal to help get Iran and the US agree on a solution and that is aimed at providing for the continent’s energy needs in the winter.
An ATA airlines passenger plane blew a tire after takeoff on Saturday morning in northeastern Iranian city of Mashhad, but the pilot managed to land the plane with 168 passengers and crew on board safely.
Iran and Russia sit on 30 percent of the world’s gas reserves and energy deals between the two countries can elevate their standing in the world, an Iranian lawmaker says.
An Iranian deputy foreign minister says Iran will shortly issue cards that would operate under the Russian Mir (Мир) payment system, enabling Russians and Iranians in the country to make electronic transfers via the system.
Iran’s exports to China increased by 31% in the first half of the year 2022, with the trade volume between the two countries exceeding 8 billion dollars, according to the latest statistics published by China’s General Administration of Customs.
The head of Iran’s Airports Company has dismissed as “wrong” and “strange” Pakistan’s claim that two of its passenger planes had a high altitude near-miss in Iranian airspace due to “human error” by Iran’s air traffic controllers.
